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Compatibility with Xero accounting software


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Hi,

 

I'm trying to sync up my IG Markets activity with my books and there are two main challenges I'm facing:

  1. The GST on Commission is split from the Commission line item effectively making 2 line items for the one charge in the transactions history export (csv). So when importing the .csv I can't properly assign a tax type to the expense. The ideal solution will be to export the transaction history with the commission inclusive of tax. For other tax regions, you could probably add a column indicating what type of tax is calculated into the fee. It will then be up to the user to report on tax they incur in their expenses.
  2. The USD transactions are combined with the main currency (AUD) in the one file export. When importing to an accounting system, an account can only be one currency. A simple filter when going through the exporting function can deal with this issue and avoid manual manipulation of the exported csv file.

Those two items above I think are all that's needed to spruik "Xero" compatibility because when the exported file is prepared as such, Xero's Statement Importing function has easy-to-use column mapping features.

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